Initial Unemployment Filings Rise

February 28, 2002 (PLANSPONSOR.com) - The number of
newly unemployed claiming benefits increased last week, while
the key four-week moving average edged down to its lowest
level in six months, according to data from the Department of
Labor.

The DoL’s latest jobless claims report shows the number
of Americans filing for benefits for the first time
increasing by 17,000 in the week ending February 23 from
the previous week’s revised figure of 361,000. The DoL had
originally reported that the previous week’s initial claims
had risen to 383,000.

The closely watched four-week moving average, which most
economists consider a better indicator of the unemployment
situation, dropped to 373,000 in the latest week, from
376,250 recorded a week earlier.

In all, 20 states recorded decreases of over 1,000 in
first time jobless claims. Topping the list were: